44. The Student Loan Fiasco

Recent investigations have exposed disturbing conflicts of interest between student loan companies and some universities or their employees, undermining both the real and perceived integrity of the financial aid process as a whole. College officials have received gifts, trips, stock options, and other benefits from lenders, while some colleges have agreed to recommend certain lenders if those lenders share the proceeds. In other cases, lenders provide staffing or call centers for a campus, posing as college representatives while answering students’ questions about financial aid, including loans.

—Project on Student Debt

Can you imagine ripping off a student for a piece of cake? Or maybe a candy bar or a handful of ...

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